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Financing Is Readily Available But Goes Most Easily To Those Who Plan Ahead.

Shawn Beaudoin

Published 6 months ago

It’s smart to get preapproved for a loan before you start shopping for big-ticket items like a mortgage or a car.1 Getting preapproved for a loan means that you know how much money a lender is willing to provide, at what rate, and on what terms. It’s a way to find out what kind of financing you’re qualified for before you go too far down the wrong path.

Preapproval involves submitting a preliminary application to a lender that will review your credit, your income, and other factors, while also telling you which loans are available to you. As a result, you can focus solely on loans that you’re likely to qualify for, while also having a better idea of which price ranges you should stay within.

Key Takeaways:

- Preapproval should ALWAYS be free

- Preapproval means your lender actually reviews your financial picture to determine what you qualify for

- Preapproval allows you to focus on purchases you know you can afford

- Preapproval doesn't obligate you to borrow the money

- Preapproval can be a HUGE negotiating edge when shopping for your new home.

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National Rate Averages

Conf. 30Y Fixed

5.42%
0.023

FHA 30Y Fixed

5.333%
0.005

Jumbo 30Y Fixed

5.163%
-0.169

Rate averages are calculated from actual locked rates. Learn more.

Additonal Resources

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What Home Buyers Need To Know About Appraisal Gaps

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How to Unfreeze Your Credit

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Flip the Script and Get Mortgage Assured to Buy Your New Home!

Published 5 months ago

What’s Your Rate? The Answer Is: It Depends…

Published 6 months ago

Financing Is Readily Available But Goes Most Easily To Those Who Plan Ahead.

Published 6 months ago

The Shawn Beaudoin Team @ Rockstar Home Loans, Tampa

Company NMLS# 227765

4301 W Boy Scout Blvd #170
Tampa, Florida 33607
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Florida
License #: MLD949 (Mortgage Lender License); MLD2037 (Mortgage Lender Servicer License)
Other Trade Names: Alegre Home Loans; DayOne Mortgage Group; Direct Mortgage Funding; eClick Lending; Heritage Home Loans; Midwest Equity Mortgage; Neo Home Loans; Pacific Northwest Lending; PCL Financial Group; Robert Coomer Group; The Driscoll Mortgage Team; The Mindful Mortgage Team; Veteran’s Mortgage Source; Von Mortgage; Wells Funding Group

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